Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list is Bill Black’s discourse on the false meritocracy arguments of the wealthy …….. and the last article is about the nearly complete recovery of global stock markets following the Great Financial Crisis.
- The Faux Hyper-Meritocracy that Threatens to Destroy Us (William K. Black, New Economic Perspectives) William K. Black is a Global Economic Intersection contributor. Read the article to see the context for these inflamatory statements.
The wealthy favor policies that would increase their disposable income and reduce the income of poorer Americans [….] because their children are more likely to be the “winners” under such a rigged system.
and
One of the rare studies done on CEOs’ and sociopathy found that they scored far higher in many measures of sociopathy than the general population.
- Gold Standard (Michael D. Bordo, Library of Economics and Liberty) Hat tip to Sig Silber. From 1981 to 1982, Bordo directed the research staff of the executive director of the U.S. Congressional Gold Commission.
- Lawler: Declining all-cash share in Vegas and Phoenix suggests slowdown in investor buying (Bill McBride, Calculated Risk)
- Gauging the Gloom (The Economist) Mention of the word “recession” in the press increases long before an official recession is proclaimed (often a year or more after the start). There are some false signals, however, notably 1998 and 2011. For 41 unusual economic and market indictors see article at Business Insider.
- Elephants Understand Human Gestures (University of St. Andrews, Scientific Computing)
- Government Data for Sale! (How It’s Hurting You) (Shah Gilani, Wall Street Insights & Indictments) Shah Gilani has contributed to Global Economic Intersection.
- Use Only As Directed (Jeff Gerth and T. Christian Miller, ProPublica) The FDA is more than 36 years late publishing final regulations on acetaminophen and other over-the-counter pain killers.
- Arnold Kling’s Cunning Hairdresser Theory of the Financial Crisis (William K. Black, New Economic Perspectives) William K. Black contributes to Global Economic Intersection. Black corrects misstatements and assumptions by Arnold Kling with extreme deference when some of the things Kling wrote are worthy of derision.
- Housing and Wealth Destruction (Arnold Kling, Askblog) This is the blog post criticized by William K. Black (above). The article that started it all was the well researched and very well written “A House Divided” by Thomas J. Sugrue (Washington Monthly).
- A Testament To The Resilience Of Markets: World Stock Market Capitalization Is Nearly Back To Pre-Recession, Pre-Crisis Levels (Mark Perry, Seeking Alpha) Mark Perry has contributed to Global Economic Intersect.
